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    "# Risk Mitigation through Price Protection in Extreme Market Conditions\n",
    "\n",
    "For high-frequency traders and market makers, latency plays a crucial role in maintaining profitability.\n",
    "However, in the cryptocurrency market especially, significant price movements and delayed market updates are common occurrences.\n",
    "To safeguard your quotes and positions against these unfavorable conditions, it is essential to employ price protection mechanisms akin to those offered by Binance.\n",
    "\n",
    "https://www.binance.com/en/support/faq/how-to-enable-the-price-protection-function-2b9dc811ce7340469357867122b975dc\n",
    "\n",
    "> Price Protection is another function offered by Binance Futures to protect traders from extreme market movements. This function protects traders from bad actors who exploit market efficiencies and cause price manipulation. \n",
    "> \n",
    "> The Price Protection feature is helpful against unusual market conditions, such as a large difference between the Last Price and Mark Price. Usually, the Mark Price is just a few cents away from the Last Price. However, in extreme market conditions, the Last Price may significantly deviate from the Mark Price.\n",
    "\n",
    "As highlighted by Binance, substantial disparities between futures prices and their underlying spot prices may signal extreme market conditions. This can be mitigated by employing conservative pricing strategies, such as setting the minimum bid price for futures and their underlying spots and the maximum ask price for futures and their underlying spots.\n",
    "Additionally, detecting abnormalities in the price discrepancy between futures and underlying spot prices can prompt exiting positions and awaiting a return to normal market conditions.\n",
    "\n",
    "Furthermore, it is necessary to carefully monitor latency, including both feed latency and order latency, as it prevents the tracking of market prices and hinders timely adjustments to orders. In extreme market conditions, latency spikes often occur and may impede price protection, making it advisable to withdraw from the market in such situations.\n",
    "\n",
    "Example to be added..."
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